By Paul Kelso, Sky News Sports Correspondent
Wembley is competing with Cardiff's Millennium Stadium and five other leading European venues to host the finals of Euro 2020.
The tournament will be staged across 13 European cities, with 32 countries applying to Uefa for the right to host group and knockout matches, or a special package of semi-finals and final.
The Football Association has applied for both packages, but would prefer Wembley to stage the culmination of the tournament.
It is understood that six other cities are bidding for the semi-finals and final.
Cardiff, Berlin, Brussels, Madrid, Kiev and Istanbul are also bidding for the finals package.
Istanbul are the favourites, having received the endorsement of Uefa president Michel Platini when they initially bid to stage the entire 2020 tournament, and having just missed out on the 2020 Olympics and Euro 2016.
FA General Secretary Alex Horne said that Istanbul were the favourites.
"Euro 2020 is something we very much want to be part of. There are seven countries bidding for the finals and we are one.
"We get the sympathy around Turkey having missed out on the Olympics, they are the front-runners to stage the semi-final and final.
"If that was the case we would still want to stage a group game and perhaps a quarter-final."
If Wembley staged group matches England would be guaranteed to play home games, assuming they qualified for the tournament.
Wembley would be "paired" with another city to host group games, possibly Cardiff or Glasgow, which is also bidding for group matches.
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